Greene King share price up on FTSE 250 ahead of HY results

By Staff Reporter

December 2, 2010 21:31 GMT

Shares in Greene King were up on the FTSE 250 ahead of the pub owners half year results, expected tomorrow.

In its September update Greene King reported a rise in like for like sales of 4.6 per cent, with food sales up 8.6 per cent. The group's pubs and restaurants accounted for around 70 per cent of its revenues.

Keith Bowman, analyst at Hargreaves Lansdown, said of tomorrow's announcement, "Food sales are likely to remain an important driver. Furthermore, management's push to increase the proportion of managed pubs whilst reducing the tenanted division may prove a feature once again. Market consensus opinion currently denotes a buy."

By 16:25 shares in Greene King were up 2.04 per cent on the FTSE 250 to 459.00 pence per share.